Mergers & Acquisitions
Intrum has a history of strengthening its market positions by selective acquisitions. We list the majority of these below.
With our acquisition strategy we aim to accomplish:
- Strengthened market positions and raise corporate awareness of the company in existing home markets
- Attain greater economies of scale
- Achieve cost synergies and revenue synergies
- Attain incremental crucial experience and know-how in existing or new services;
- Broaden our client base; Launch the entire service range in countries where Intrum is present
- Establish a footprint in new European markets
Long term strategic partnership between Intrum and Piraeus Bank
In June 2019 Intrum announced that it had agreed with Greek based Piraeus Bank to acquire the bank’s Recovery Management Services platform. At the same time a long term servicing partnership regarding Piraeus Bank’s Non-Performing Exposures was entered. Intrum acquired 80 percent of the newly formed entity and Piraeus Bank owns 20 percent. The deal puts Intrum in a leading position in Greece, which is one of the largest markets for non-performing loans in Europe. The transaction formally closed in October 2020. Read the full press release.
Acquisition of Solvia
In December 2018 Intrum announced that it had entered an agreement with Banco Sabadell to acquire their wholly owned subsidiary Solvia Servicios Inmobiliaros (Solvia). Solvia is one of the leading real estate service providers in Spain with a wide range of clients such as private individuals, companies and investors. Solvia has a broad spectrum of assets under management including residential mortgages, corporate and SME loans, commercial real estate, secured and unsecured receivables and Real Estate Owned (REOs) portfolios. The agreement reinforces Intrum’s position in the Spanish real estate market and strengthens the collaboration with Banco Sabadell, one of the largest banks in Spain. The transaction formally closed in April 2019. Read the full press release.
Long term strategic partnership between Intrum and Intesa Sanpaolo
In April 2018 Intrum submitted a binding offer to Intesa Sanpaolo regarding the establishment of a market leading servicer of non-performing loans (NPLs) in Italy. The offer consisted of two parts which both were accepted by Intesa Sanpaolo. Italy is one of the largest markets for NPLs in Europe which highlights the importance of this long term strategic partnership. The overall transaction formally closed in Q4 2018. More information about the partnership.
Acquisition of CAF
In December 2017 Intrum acquired CAF S.p.A (CAF), the third largest servicer of non-performing loans in Italy. At the same time, Intrum acquired a large, diversified debt portfolio serviced by CAF. CAF is one of a few rated credit management companies in Italy enabling it to service exposed banks and certain securitization vehicles for non-performing loan collection. By combining this acquisition and large portfolio investment, Intrum establishes a balanced business model for Intrum in Italy, further strengthening Intrum as the undisputed market leader in the European credit management industry.
Merger with Intrum Justitia & Lindorff
In June 2017 Intrum Justitia and Lindorff merged to Intrum to create the industry leading CMS company with local presence in 24 markets across Europe and a team of more than 8,000 professional, committed and caring employees. More information about the merger.
Acquisition of IJCOF
In April 2017, Intrum acquired the remaining 42 per cent of the shares in the French credit management company IJCOF Corporate. Intrum Justitia AB (publ) previously held 58 per cent of the shares in IJCOF Corporate.
Acquisition of Intractiv
In February 2017, Intrum Justitia AB (publ) acquired the French credit management company Intractiv Wide Development (IWD) and its subsidiary Intractiv, thereby acquiring i.a. a technological and services platform dedicated to the French B2B market, combining technology, content and services within a single collaborative tool.
Acquisition of 1st Credit
In November 2016, Intrum Justitia AB (publ) entered into an agreement to acquire 1st Credit, a mid-sized purchased debt company in the United Kingdom. 1st Credit has a strong operation for collection of financial receivables and is one of few companies in the UK that are regularly invited to most of the panels where banks and financial companies invite selected buyers to purchase portfolios. 1st Credit has invested successfully to adapt to increased regulation in the UK market and it has received several awards as the most compliant debt collection company in the industry. The acquisition is expected to be completed during the first quarter of 2017.
Acquisition of Dansk Kreditorservice A/S (DKS)
In October 2016, Intrum Justitia AB (publ) acquired the Danish company Dansk Kreditorservice A/S (DKS). DKS is a credit management company with a market leading position in the customer segment for small and medium-sized enterprises.
Acquisition of Segestión Gabinete Técnico Empresarial, S.L
In October 2016, Intrum Justitia AB (publ) acquired the Spanish company Segestión Gabinete Técnico Empresarial, S.L. Segestión is a credit management company with a market leading position in the customer segment for small and medium-sized enterprises.
Acquisition of Logicomer Gestão e Recuperação de Créditos SA
In Q4 2015, Intrum Justitia AB (publ) completed its acquisition of the Portuguese company Logicomer Gestão e Recuperação de Créditos SA. Logicomer is primarily engaged in credit management services, but also held a purchased debt portfolio. A more detailed description of the acquisition reporting can be found in the Intrum Justitia annual reports, in the notes section, under Acquisitions of Operations.
Acquisition of Credita AG
In February 2015, Intrum Justitia AB (publ) acquired a smaller credit management company in Switzerland, Credita AG. A more detailed description of the acquisition reporting can be found in the Intrum Justitia annual reports, in the notes section, under Acquisitions of Operations.
Acquisition of Advis A/S
In October 2014, Intrum Justitia AB (publ) agreed to acquire the shares in the Danish company Advis A/S, a leading credit management company in Denmark – a market leader in the telecom sector, also with a strong presence in the media and energy segments. Press release
Acquisition of Profidebt sro
In January, 2014, Intrum Justitia agreed to acquire the Czech company Profidebt sro. The company’s operations mainly comprise purchased debt and it held a portfolio of overdue receivables. Press release
Acquisition of Aktiv Kapital’s Swiss operations
In July, 2013, Intrum Justitia agreed to acquire two companies encompassing Aktiv Kapital’s Swiss operations, which primarily involved purchasing of overdue receivables. A more detailed description of the acquisition reporting can be found in the Intrum Justitia annual reports, in the notes section, under Acquisitions of Operations.
Acquisition of Buckaroo B.V
In January 2012 Intrum Justitia Acquired the Dutch payment Service Provider Buckaroo B.V. The acquisition provides Intrum Justitia with a strong technical platform to offer clients financial services primiarily on-line. Press release
Acquisition of Difko Inkasso A/S
In September 2011 Intrum Justitia AB (publ) acquired the credit management company Difko Inkasso A/S in Denmark, making Intrum Justitia the number one player in the Danish market for credit management services. Press release
Improved market position in the Nordic region
At the end of 2010, Aktiv Kapital's Nordic credit management operation was acquired. An acquisition that made Intrum Justitia as one of the three biggest players in the Norwegian market. By the end of the year we also acquired Nice Invest Nordic, a company that invests in overdue receivables from mail order and e-commerce clients. Press release
Acquisition of Cronos Group and SSE
In December 2008 Intrum Justitia acquired French companies Cronos Group and SSE.
Intrum Justitia acquires Belgian companies In March 2008 Intrum Justitia acquired the Belgian holding company Solutius Belgium NV, which in turn owned two debt collection agencies in the Belgian market, Juri-Desk and Krebes.
Acquisition of Creditexpress
In June 2005, Slovakia's leading debt collection company was aquired, Creditexpress Slovakia s.r.o. Although the acquisition of Creditexpress was comparatively small for the Intrum Justitia Group, it has brought a strong market position in Slovakia. The country has 5.4 million inhabitants and the debt collection market is primarily consisting of consumer collection.
Acquisition of Legal & Trade
In October 2004 Legal & Trade Collections (Ireland) Limited was acquired. The acquisition made Intrum Justitia the clear market leader in the Republic of Ireland.
Divestment of Créancia
In December 2002, Intrum Justitia divested its 34% minority interest in French company Créancia, generating capital gains of SEK 6.4 M.
Acquisition of Jean Riou Contentieux and Cofreco
Jean Riou Contentieux was acquired on December 31, 2002 and Cofreco was acquired in the beginning of 2003 (after the close of the fiscal year). Both companies are leaders in consumer debt collection in France. Combined, the two companies reported revenues of about SEK 78 M in 2001, with 96 employees at four offices.
Acquisition of Stirling Park
Stirling Park was acquired in July 2002. This is one of Scotland's largest debt collection companies with a broad client base, including local public authorities. The company reported revenues of some SEK 56 M in fiscal 2001. Operations - comprising a workforce of 108 employees at six offices - were consolidated in the Group as of July 17, 2002. The acquisition strengthens Intrum Justitia's position in the British market of consumer debt collection.
Acquisition of Vía Ejecutive
In December 2001, Vía Ejecutiva - a debt collection company with some 80 employees and operations in Spain and Portugal - was acquired. The acquisition cost was SEK 7.5 M, including a restructuring reserve of SEK 4.7 M.
Acquisition of D&B RMS
In May 2001, Intrum Justitia acquired the European RMS operations of Dun & Bradstreet. D&B RMS was one of the largest European RMS players both in terms of revenues and gross collection value. On the acquisition date, the company had 510 employees and provided services in sales ledger management, consumer debt collection, commercial collection and international collection services to some 17,000 clients in twelve European countries.